New
Delhi
India’s largest tyre manufacturer, Apollo
Tyres Ltd, has planned to double its revenue and reach a $5 billion figure in
2026 and to improve its operating profit margin by 15%. According to the
management of the company, it is believed that the company is targeting to
generate a pre-term return on capital employed of 12 to 15%. It is also said
that the debt to EBITDA ratio will also be maintained at two times the
operating profit.
According to the
analysts of ICICI securities, the company is planning to enter into new
geographies within Europe, introducing TBR, targeting all-season tyres, and
onboard German OEMs in PCR, due to which it might grow faster in the industry.
These analysts’ also said that the company has begun seeding the large US
market and will serve it with facilities offered in India and Hungary.
The company has also reported a 270.5% increase in
the consolidated net profit. The revenue from operations has also improved by
39% and EBITDA has also jumped 69%. As per the analysts of ICICI securities, the
margins achieved in Europe are sustainable. It was also said that the company
is planning to reduce its raw material consumption by 5 to 7 % as the
production will ramp up in the coming five years.
Source – Mint
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Also Read:
https://www.automotiveproductsfinder.com/news/apollo-tyres-launches-new-corporate-identity/134670
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